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Goldstocks

GOLD NEXT POSSIABILITY(HEAD & SHOULDER PATTERN)Head & shoulder & ABCD PATTERN is formed Above is free 4H chart explanation No Daily changes so far after a very Bearish E.U. session opening on usually volatile Hourly candles. We can easily spot on Hourly 4 chart how the current slow falling consolidation is repeating the pattern of March 7 - 20 sequence. Stock markets and Bond notes are on usual levels but of course it all really depends on U.S. session opening Bell on Monday. One of the most volatile Trading days was on Wednesday’s session according to the Historical Data with a 27.80 point differential on Daily chart , also seen by the wide margin (Neutral) on mostly all Hourly charts. Technical analysis could be immediately effective(60-40%) on such high volatility levels. Price-action was close to reaching the Short-term Resistance of the Higher Low much sooner than we expected as the market turned this fear into a Volatility similar to the Covid parabola early in February-March, which could be the reason of this unexplained Gold decline. As it happened then, the market psychology is similar, (both ways around) and as soon as the Stock markets recover, Gold's move will deflate and reach at least the Fibonacci retracement from yesterday’s session bottom. The Hourly 1 chart is nearly Oversold and the RSI in particular above the 3 month Support. Hourly 4 chart printed clear Head and Shoulders formation, on the other hand - MA50 was broken on yesterday's session multiple times. This just shows the continued high degree of volatility and how unstable the market (along with most asset classes) has become. As for the current situation, Gold broke the 1-Month Support and automatically should be call for 1,900.50 (which represents Monthly Low) extension but, by recent experience , we will position ourselves accordingly and continue monitoring the market. Technically, breaking above #MA50 brings 1,971.80 Resistance in motion while below it, 1,900.50 (Support). We will Trade the breakout for longterm but as you know SCALPING IS THE KEY ;) Entries should be taken only if all the rules of entries are satisfied.
TVC:GOLD
by TradingSwirls
CRES.C -- Gold mining stock trading at below cash eq.Another undervalued jam in the junior gold mining space. Retraced to .15 Fib support but note the accumulation picking up as the stock price started sliding down. That's my favourite kind of divergence! The market is not taking into account CRES's holdings in other junior miners. Its market is currently below its cash eq. Holdings include: VC.C | 8.9 mil shares at .42 | valued $3.7M, AUCU.C | 5.3 mil shares at .51 | valued $2.7M, RNR.C | 5.8 mil shares at 0.60 | valued at $3.48M That's for a company with $6.75M market cap!!
CLong
by wealth_bakery
Descending Channel for GBR?GBR has seen a parabolic 3000% gain & more since 2018, very odd considering Gold is only up approximately 70% in a similar time frame. I guess gold miners & gold don't necessarily correlate 100%. GBR appears to be trading in a descending channel, and on the RSI there's a noticeable double top / Head & Shoulders, where I have placed the blue human icon represents the head of the H&S. The red arrow on the RSI is possibly a double top. On a long term chart it appears as though the RSI has topped multiple times but the price has continued to rise, thus creating a bearish divergence.
G
by ScotianBot
Gold broke the $2,000 mark and hit all time highGold hit $2,000 an ounce on Tuesday, a milestone that caps a record-breaking rally driven by depressed bond yields and fears over the impact of Covid-19 on the global economy. People tend to hold and buy gold in times of uncertainty just like during the financial crisis which peaked at 2011. The reason is because gold is view as a safe haven because as the world’s earliest form of currency, gold’s physical properties have meant it has long been considered a reliable store of value. It is widely available enough to trade but is in finite supply, so is rare enough to be considered valuable and unlike some metals it is not corrosive, making it durable. Therefore, I usually hold around 10-20% of my portfolio in gold as a hedge incase market becomes too volatile or dips. But instead of buying physical gold, you can buy gold etfs like SPDR Gold MiniShares (GLDM) which has higher liquidity. Gold etfs are also known as paper gold and essentially, the company buy the gold and hold for u at a low cost. You can read up more on it online if you are considering gold in your portfolio.
TVC:GOLDLong
by Trader_hao
2
Long on Common Sense. I Personally don't believe the price of Gold is linked to inflation or the recession. However, you might. So let's see if this reasoning holds up to scrutiny. Let's see if selling at 2k makes sense. Boomer Logic: It happened in the past, there was a recession and then the price of Gold spiked to 2k and then it crashed, so it will happen again. Skeptic: This brings up a very interesting question, was every previous recession followed by 2k price spike and then a crash. Looking at the price history of Gold there is no indication of that. 2k is just a random number pegged to dollar valuation that flucatues with time. So 2k, or any number we peg in our mind to the price of gold in terms of dollars is really insignificant. It would not indicate a reason to sell or even buy. However, you might. Boomer Logic: Well how about inflation, those daaaaaaaaaaaaaam feds are printing so much goddaaaaaamn money! and that's why we all need to sell. Skeptic: Ook so the government is printing lots of money, so wouldn't selling into inflation erase your investment? However, let's pretend selling into inflation makes sense. What is the current inflation rate? The current inflation rate is only 1.6 % at best or maybe 1.7%. No one is going out and spending and working, everyone is afraid of the Ronoa, so how can there be inflation? Inflation is only expected to pick up next year. So selling now means you would be buying into inflation, and thus losing money and a buying opportunity for anyone else. However, you do what makes sense for you. You can sell when you know the economy is heading in the right directions. You won't need some financial fortune teller telling you when to sell. You will feel it in the air, when people have more confidence in government and in the strength of the dollar. You might think that's happening right now, in which case you should sell right away. However if you don't, then you probably shouldn't, and I suspect we won't be there anytime soon. But you do you ;-)
AMEX:GDXLong
by Uhrenmann
GOLD's NEXT POSSIBLE MOVESGold jumps $15 to renew 9 years high above $1865. As we can see GOLD's Higher high is on 1,865 on the H1,H4 time frame in the Zone (consolidation area) .At the moment gold is on 1859 and there are low chances of rebound towards sell area below 1840. Gold is expected to breach the zone between 1840-1865. $1920 is not far. It will remain in consolidation this week probably in the current zone of 1840-1865. 1865 is a strong resistance now followed by 2011 moves. In case if its break the support level of 1840 than there will be more chances that gold will touch the support level of 1820 and adopt the zone between 1820-1795. If Gold leaves this zone of 1795-1820 towards downside, its next target will be 1785-1765 but there is nothing that can stop GOLD's bullish momentum so far. The Fundamental side for current session is Neutral but the Lows on DX are extremely Bullish for Gold , which on any other period (without Covid-19) should have been Bearish for Gold .As covid-19 cases are still increasing. I can't confirm sell on gold but the DX is still not recovering and the Stock markets on Highs,and the news came out about the Corona Vaccine that USA has made and that will be fully ready to use in the next coming 2 months and thats the key factor of gold's bearish movement. The Red oval area indicates the restricted area and trading should be avoided here. Comment below if you need any Help.
TVC:GOLDLong
by TradingSwirls
GOLD's NEXT MOVEAs we can see GOLD's Higher high is on 1,815 on the H1,H4 time frame in the Zone (consolidation area) .At the moment gold is on 1812 and there are low chances of rebound towards sell area. Gold is expected to breach the zone between 1795-1815 today after two weeks. In case if its break the support level of 1795 than there will be more chances that gold will touch the support level of 1770 and adopt the zone between 1745-1780. If Gold leaves this zone of 1795-1815 towards upside, its next target will be 1820-1840. The Fundamental side for current session is Neutral but the Lows on DX are extremely Bullish for Gold , which on any other period (without Covid-19) should have been Bearish for Gold .As covid-19 cases are still increasing. I can't confirm sell on gold but the DX is still not recovering and the Stock markets on Highs,and the news came out about the Corona Vaccine that USA has made and that will be fully ready to use in the next coming 2 months and thats the key factor of gold's bearish movement. The Red oval area indicates the restricted area and trading should be avoided here. Comment below if you need any Help.
TVC:GOLDLong
by ARsal_KhAnn
GOLD NEXT PROABILITIESAs we can see GOLD's Higher high is on 1,815 on the H1,H4 time frame in the Zone (consolidation area) .At the moment gold is on 1797 and there are 50% chances of rebound with corrective structure towards buy direction while maintaining the zone between 1795-1815. In case if its break the support level of 1795 than there will be more chances that gold will touch the support level of 1770 and adopt the zone between 1745-1780. I can't confirm that but as the DX is still not recovering and the Stock markets on Highs,and the news came out about the Corona Vaccine that USA has made and that will be fully ready to use in the next coming 2 months and thats the key factor of gold's bearish movement. The Red oval area indicates the restricted area and Avoid Trading. Comment us if you need any Help
TVC:GOLD
by TradingSwirls